Brokers have reported an overall satisfaction with mortgage lenders of 4.22 out of five, the highest level since 2020.
According to Smart Money People’s H1 2025 Mortgage Lender Benchmark series, which is made up of feedback from 1,111 brokers at 600 firms giving opinions on around 134 lenders, Halifax was named the best mainstream lender by brokers, with Principality Building Society coming out on top for building societies.
The top later life lender among brokers was Canada Life, with Pepper Money cited as the best specialist lender.
BM Solutions was the best buy-to-let (BTL) specialist lender, Allica Bank was the top bridging and commercial lender and LendInvest was the best digital-first lender.
The report also included a Broker Experience Index, which looks at multiple satisfaction and service metrics including speed, service, digital tools and support, which is out of 70.6.
The metric is designed to reflect the full broker journey.
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The building society sector has the top-rated broker experience index at 71.5, followed by mainstream lenders at 11.4.
Jake Sandford, head of data and analytics at Smart Money People, said: “It’s extremely encouraging to see that overall satisfaction across the industry remains high, which is undoubtedly great news for brokers and borrowers alike.
“To reflect the importance of the wider broker journey across multiple touchpoints when working with lenders, our new Broker Experience Index provides revealing insights on the individual elements of the journey – and shows which lenders are managing to join everything up to provide the best broker experience.”